The Trump Administration Works on Plan to Save TikTok with Oracle and Outside Investors
The administration of U.S. President Donald Trump is negotiating a plan to save TikTok, which involves Oracle and a group of outside investors taking control of the app’s global operations, according to a National Public Radio (NPR) report on Saturday. Under the deal being negotiated by the White House, ByteDance, the China-based owner of TikTok, would retain a minority stake in the company, but the app’s algorithm, data collection, and software updates would be overseen by Oracle, which already provides the foundation of TikTok’s Web infrastructure.
According to NPR, Oracle would effectively monitor and provide oversight of TikTok’s operations, while ByteDance would minimize its Chinese ownership. The deal would result in American investors owning a majority stake in the company, but the terms are still being hammered out and could change.
Other potential investors involved in the talks include Microsoft, according to NPR. Officials from Oracle and the White House met on Friday to discuss the potential deal, with another meeting scheduled for next week. Oracle is interested in acquiring a significant stake in TikTok, reportedly in the tens of billions, but the deal is still in flux.
Appeasing Congress is seen as a key hurdle by the White House, according to NPR.
